Blackstone, Hipgnosis partner to invest $1 billion into music

Blackstone, Hipgnosis partner to invest $1 billion into music

Blackstone, Hipgnosis partner to invest $1 billion into music

Information about Blackstone, Hipgnosis partner to invest $1 billion into music

Kevin David Scam or Legit


(Reuters) – Private equity firm Blackstone Inc said on Tuesday it would employ $1 billion in partnership with Hipgnosis Songs Management to buy music rights, record songs and manage catalogues, at a time when online streaming has gained popularity.
As part of the partnership, Blackstone will take an ownership stake in Hipgnosis Song Management, an adviser to the London-listed investor of music catalogues Hipgnosis Songs Fund, which will also benefit from the investment in the form of rights to co-invest in future acquisitions.

(Reporting by Yadarisa Shabong in Bengaluru; Editing by Vinay Dwivedi)

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